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Financial Times names Freshfields as most innovative lawyers for deals and financing, regulatory solutions, and pro bono in Europe
- Freshfields named most innovative lawyers in deals and financing for advising UBS on the acquisition of Credit Suisse;
- Freshfields and its client CARIAD awarded for innovation in regulatory solutions, and new products and services respectively, on generative AI driven risk assessment solution;
- Awarded most innovative lawyers in pro bono for advising ECPAT UK in a case challenging the failures in safeguarding unaccompanied child asylum seekers in hotels;
- Firm highly commended for both business of law strategy, and improving client experience through its Mass Claims Unit, and commended for private capital advisory;
- Firm ranked fifth most innovative firm in Europe.
Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) won three awards at last night’s Financial Times Innovative Lawyers Awards Europe, and stood out for “originality, leadership, and impact” for innovation in deals and financing, regulatory solutions, and pro bono advisory.
Freshfields won in the category of deals and financing. The firm's international team, led by partners Jennifer Bethlehem and Michael Raffan, successfully advised UBS in the swift takeover of Credit Suisse, securing a $3.35bn rescue deal to prevent the rival's collapse. Bespoke due diligence systems were instrumental in finalising the negotiations within a week.
For innovation in regulatory solutions, the firm was awarded for its partnership with Volkswagen's software subsidiary CARIAD and its legal team to build a digital platform streamlining the regulatory compliance assessment for thousands of software developers. The solution provides a generative AI driven risk assessment, based on regulatory data collected by the firm from 100 jurisdictions. It leveraged the proprietary Multijurisdictional Insights Platform, developed in the Freshfields Lab. Freshfields’ client CARIAD also won the in-house legal award for innovation in new products and services.
The firm was also declared the winner for representing ECPAT UK in a case challenging the failures in safeguarding unaccompanied child asylum seekers in hotels. A team led by Ali Sallaway and Chris Pugh were successful in a judicial review in 2023, with the court monitoring compliance with the ruling that these children must stay in the care of local authorities.
Ranked fifth most innovative firm in Europe, Freshfields also received commendations for:
- Business of law strategy: Freshfields’ US-focused growth strategy, investing in expanding its Silicon Valley mergers and acquisitions practice group. The firm also [appointed Gil Perez as its] Global Chief Innovation Officer based on the US West Coast in 2024.
- Private capital: Freshfields was commended in the private capital category for advising on the consortium buyout of Adevinta by Permira and Blackstone. Freshfields led as corporate counsel for the investor group.
- Improving client experience: Freshfields opened a mass claims unit in 2022 to handle litigation, inspired by their work with Volkswagen on Dieselgate claims. The firm utilises technology, including software for court submissions and managing caseloads.
The awards ceremony celebrates the best in innovation from law firms and in-house legal teams in Europe, recognising leaders in digital innovation, strategic advice, talent management and driving positive change in the profession.
The FT law firm index Europe 2024 placed Freshfields fifth out of the top 50 participating firms, which assesses firms based on four metrics: innovation, digital, people, and social responsibility.
Speaking to the FT, Global Managing Partner Alan Mason said: “Every law firm is . . . looking at its portfolio of clients and saying how do we ‘shape-shift’ our business to match existing and emerging demands. Now, you need to have destination practices that are rated one, two or three either by geography or legal practice area. If you don’t, the risk is that clients will go elsewhere.”
